MIDEAST STOCKS-Gulf bourses end mixed on oil price fall, weak US economic data

By Ateeq Shariff

May 1 (Reuters) - Stock markets in the Gulf ended mixed on Thursday amid falling oil prices and weaker-than-expected U.S. GDP data.

The U.S. economy contracted in the first quarter, largely because of a surge in imports as businesses sought to avoid expected tariffs.

Risks are high that U.S. President Donald Trump's tariff policies could push the global economy into a recession this year, a Reuters poll found on Monday.

Saudi Arabia's benchmark index .TASI declined 1.1%, weighed down by a 0.9% fall in Al Rajhi Bank 1120.SE and a 2.2% slide in the country's biggest lender Saudi National Bank 1180.SE.

Oil giant Saudi Aramco 2222.SE also fell 0.6%.

Oil prices — a catalyst for the Gulf's financial markets — fell, extending a steep decline the previous session due to signs that Saudi Arabia, the world's largest crude exporter, could raise production and data showing a contraction in the U.S. economy, the world's top oil consumer.

Meanwhile, Saudi Arabia's economy grew in the first quarter, supported by activity in the non-oil sector as the kingdom pushes on with diversifying away from hydrocarbons.

Dubai's main share index .DFMGI declined 0.7%; Commercial Bank of Dubai CBD.DU fell 8.9%, snapping a four-day winning streak.

In Abu Dhabi, the index .FTFADGI edged 0.2% higher, helped by a 0.4% rise in conglomerate International Holding IHC.AD.

The Qatari benchmark .QSI eased 0.1%, with petrochemical maker Industries Qatar IQCD.QA retreating 2.9%.

Outside the Gulf, Egypt's blue-chip index .EGX30 rose 0.3%, with Commercial International Bank COMI.CA gaining 1.3%.